Treasury Nominee Sees Benchmarks
Going Corporate as Treasurys Dwindle

By

John Connor Dow Jones Newswires

Updated July 8, 1999 12:01 a.m. ET

WASHINGTON -- Non-Treasury securities, including high-quality corporate debt, would become benchmarks for bond investors as the supply of Treasury paper dwindles in the future, said Stuart Eizenstat, the nominee to be deputy Treasury secretary.

Mr. Eizenstat said the Federal Reserve, which currently uses Treasury securities to conduct open-market operations, would adapt to such a changing environment by substituting other debt...